Alan N. Lwetabe quits Bank of Uganda to head investments Directorate at the Deposit Protection Fund of Uganda

Alan N. Lwetabe, CFA, CAIA, CIPM; has joined the Deposit Protection Fund of Uganda (DPF) in the capacity of Director of Investments from 1 July 2021. He joins the DPF from the Bank of Uganda where he was an Assistant Director in charge of foreign reserves management.

The Deposit Protection Fund of Uganda (DPF) was established as a separate legal entity following the enactment of the Financial Institutions (Amended) Act, 2016. Before this, DPF was managed by the Bank of Uganda.

The process of operationalizing the Fund commenced in April 2017 with the inauguration of the Board of Directors by the Honorable Minister of Finance, Planning and Economic Development.

DPF acts as a deposit insurance scheme for customers of deposit-taking institutions licensed by the Bank of Uganda. It is also mandated to act as a receiver or liquidator of a Contributing Institution if appointed by the Bank of Uganda.

A Contributing Institution is one, which is licensed by the Bank of Uganda and periodically makes a financial contribution to the DPF— usually at least 0.2% of the average weighted deposit liabilities of the contributing institution over the previous calendar year. Contributing institutions, are Commercial Banks, Credit Institutions, and Microfinance Deposit-Taking Institutions.

The director of investments ensures that regularly the pool of funds set aside for protecting deposits grows consistently over time and are well invested in relatively safe financial assets. The funds should be readily available in case they are called upon to make pay-outs.

Alan trained as an economist and holds a Bachelor’s of Arts and Master’s of Arts in Economics from Makerere University. He is an accomplished investment professional and portfolio manager with the highly-regarded Chartered Financial Analyst (CFA) designation and Chartered Alternative Investment Analyst (CAIA) designation.

Over the years, Alan has developed deep expertise in financial analysis, investment management and macro-economic analysis during his different capacities at the central bank. He brings a diverse investment skill-set that has involved advising institutional investors in managing pension assets; helping asset owners to navigate private markets, real estate investing and structured debt transactions.

Alan is currently a board member of CFA Society East Africa, and a regular member of the CFA Institute, USA and CAIA Association, USA.